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Friday, 12 October 2012 - Amazon CEO confirms Kindle sold at cost |
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Credit: Reuters/Gus Ruelas Thu Oct 11, 2012 8:52pm EDT (Reuters) - Amazon Chief Executive Jeff Bezos confirmed on Thursday that the online retailer sells its Kindle e-reader "at cost", with profit coming instead from sales of online content. Bezos' remarks, in an interview with the BBC, marked the first time the company had confirmed long-held Wall Street assumptions that it did not make a profit on sales of the popular tablet. The aggressive pricing furthers Bezos' goal of getting Kindle tablets into the hands of as many buyers of Amazon's online content -- from games and books to video -- as possible. Apple, by contrast, makes much of its profit from hardware sales. It sells a single-sized iPad at costs ranging from $399 to $829, depending on storage capacity, screen resolution and wireless connectivity. (Reporting by Michelle Conlin; Editing by Ken Wills) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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